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External Partners Alumni Search Submit Return to home Search Search About About Olin Home Why Olin Equity, Diversity & Inclusion Leadership & Strategy News & Media Events Contact Us Programs Programs Home Explore Our Programs BS in Business Administration MBAs Specialized Master's Doctoral Executive Education Dual Degrees Faculty & Research Faculty & Research Home Faculty Directory Research Research Centers Olin Brookings Commission Olin Award Student Resources Student Resources Home Career Services Center for Experiential Learning Entrepreneurship Academic Calendars Student Organizations For Current Students For Military Veterans Admissions Admissions Home Scholarships & Aid Attend Program Events Visit Olin Ask a Student Student Profiles Request Information Refer a Candidate External Partners Alumni Dean Taylor: learn from your mistakes July 5, 2017 By WashU Olin Business School 1 minute read Home News Dean Taylor: learn from your mistakes Poets & Quants asked top business school deans, &＃8220;What was your favorite mistake in your career?&＃8221; The question solicited thoughtful answers from the deans of Wharton, Kellogg, Emory, and others including Olin&＃8217;s Mark Taylor. I can think of instances, especially early in my career, where I was too emotionally attached to a pet project to admit that it was not performing according to expectations and that I needed to cut bait. The time, effort and imagination that goes in into launching something can easily cloud one&＃8217;s judgment into thinking, &＃8220;It can&＃8217;t possibly fail and turnaround and success are just around the corner.&＃8221; After this happened a couple of times &＃8211; and I saw that prevarication only made matters worse &＃8211; I realised that having projects fail is a normal element of business. In fact, if some projects don&＃8217;t occasionally fail, it means that, as a leader, you are not taking enough controlled risks. The skill is in having more projects succeed than fail. &＃8212;Mark P. Taylor Link to Poets & Quants article. About the Author WashU Olin Business School Firmly established at the Gateway to the West, Olin Business School at Washington University in St. Louis stands as the gateway to something far grander in scale. The education we deliver prepares our students to thoughtfully make difficult decisions—the kind that can change the world. Contact Us For assistance in finding faculty experts, please contact Washington University Public Affairs. Monday&＃8211;Friday, 8:30 to 5 p.m. Sara Savat, Senior News Director, Business and Social [email protected] &＃160; Kurt Greenbaum,Communications [email protected] Twitter: WUSTLnews Share article Apply Now Visit Us Request Info One Brookings Drive, St. Louis, MO 63130-4899 [email protected] 314-935-7301 News & Media Events Faculty Directory WashU Center for Career Engagement Washington University home Olin Links Sitemap Privacy Policies Title IX Accessibility ©2024 Washington University in St. Louis